3Commas is a widely recognized automated trading bot platform designed for both beginners and advanced traders looking to optimize their trading strategies. It enables users to create their own bots based on various conditions or choose from pre-built bots, such as the DCA (Dollar-Cost Averaging) bot, to automate trading activities.
However, 3Commas has faced security challenges recently. In multiple incidents, users reported unauthorized trades due to compromised API keys linked to their 3Commas accounts. The company, along with FTX, conducted an investigation and found that the API keys were obtained through phishing attacks and fraudulent websites rather than direct leaks from the 3Commas platform itself
Despite the initial denials, the CEO of 3Commas, Yuriy Sorokin, later confirmed the leak after Binance CEO Changpeng Zhao warned users about potential API key exposure. The firm acknowledged that some API keys were indeed leaked and advised affected users to delete and regenerate their API keys to prevent further incidents
This series of security breaches led to demands from affected users for refunds and apologies, as many felt they were initially misled regarding the nature of the compromise
In response, 3Commas has since enhanced its security protocols, such as disabling API connections upon password resets and recommending the use of two-factor authentication
While 3Commas remains a powerful tool for automated trading, users should take extra precautions when connecting their exchange accounts and be vigilant against phishing attempts.